Section 382-A:8-508 Duty of Securities Intermediary to Change Entitlement Holder's Position to Other Form of Security Holding. - New Hampshire Statutes

A securities intermediary shall act at the direction of an entitlement holder to change a security entitlement into another available form of holding for which the entitlement holder is eligible, or to cause the financial asset to be transferred to a securities account of the entitlement holder with another securities intermediary. A securities intermediary satisfies the duty if:
      (1) the securities intermediary acts as agreed upon by the entitlement holder and the securities intermediary; or
      (2) in the absence of agreement, the securities intermediary exercises due care in accordance with reasonable commercial standards to follow the direction of the entitlement holder.

Source. 1998, 326:1, eff. Jan. 1, 1999.